Two-Family Duplex with Separate Living
For Sale
$619,900
1216 Broadway, Hillside, NJ 07205
Residential property with distinct accommodations, comfortable interiors, and access to schools, shopping, parks, highways, and public transportation.
Property Size1,892 SF
Price / SF$327.64
Days on Market44
Property Features for 1216 Broadway
General Information
Standard status
Active
Size
1,892 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1922
Listing Agency:
EXIT Realty East Coast Shirvanian
Listed By:
Marcia Lentini · License #1866417
(732) 977-3325
Source:
Soldbypattie
Added: Aug 8
Changed: Sep 10
Last Checked: Sep 19 at 1:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXIT Realty East Coast Shirvanian
Investment Insights
Based on property information with market context.
This duplex, built in 1922, contains two separate residential units with spacious floor plans, comfortable living areas, and generous natural light. The two-family configuration provides distinct accommodations within one property and supports flexible occupancy arrangements.
The property is located at 1216 Broadway in Hillside Twp., New Jersey, near schools, parks, shopping, major highways, and public transportation. WalkScore is 45, categorized as Car-Dependent, while BikeScore is 36, categorized as Somewhat Bikeable.
The property is located at 1216 Broadway in Hillside Twp., New Jersey, near schools, parks, shopping, major highways, and public transportation. WalkScore is 45, categorized as Car-Dependent, while BikeScore is 36, categorized as Somewhat Bikeable.
Key Highlights
- Two‑family duplex with separate residential units
- Built in 1922
- Spacious layouts with comfortable living areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,665
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$633,300
$633.3K
Cap Rate 7%
$452,357
$452.4K
Cap Rate 9%
$351,833
$351.8K
Market Conditions
NOI Build-Up for 1,892 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.4K $25.56/SF
− Vacancy
−$3.1K −$1.65/SF
EGI
$45.2K $23.91/SF
− OpEx
−$13.6K −$7.17/SF
NOI
$31.7K $16.74/SF
Area
Union County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$633,300
Cap Rate 7%
$452,357
Cap Rate 9%
$351,833
Alternative Uses
Best Use
Multifamily LT 5
$452.4K
$395.8K – $527.8K
NOI $31,665 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$415.6K
$363.7K – $484.9K
NOI $29,095 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$494.0K
$432.3K – $576.4K
NOI $34,583 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,076
Businesses Nearby
Explore this area
Business Placement
Demographics for 07205, NJ
22,432
Population
7,550
Households
3
Avg Household Size
39
Median Age
29%
College-Educated
87%
High-School Grad
2.8 sq mi
ZIP Area
8,011
Density / Sq Mi
$98,558
Median Household Income
$47,633
Median Earnings
$1,712
Median Rent
$363,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Residential property with distinct accommodations, comfortable interiors, and access to schools, shopping, parks, highways, and public transportation.
Where is this duplex located?
The property is located at 1216 Broadway Hillside, NJ.
What is the asking price?
The asking price for this property is $619,900.
What are key features of this property?
This property features: Two‑family duplex with separate residential units; Built in 1922; Spacious layouts with comfortable living areas
